The Problem
You are in a hurry and need Liras. You see a jeweler or a small shop with a sign saying "Change Office" and offering an amazing rate. You swap your Euros, but later realize the bills are fake, or they charged an enormous "hidden commission" that wasn't on the sign.
How the Law Works in Turkey
Under the Law on the Protection of the Value of the Turkish Currency, only banks and licensed exchange offices (Döviz Bürosu) are legally allowed to trade foreign currency. It is technically illegal for a jeweler, a carpet shop, or a souvenir stand to act as a currency exchange. Licensed offices are strictly regulated by the Ministry of Finance and must display their license and the exact rates/commissions on an electronic board.
What the Tourist Should Do
Only use official exchange offices with the "Döviz" sign and an electronic rate board. Always ask for an official receipt (Fiş/Makbuz) for the transaction. Count your money at the window before leaving. If a shop offers you a "special rate," walk away—it's likely a scam.
The Risks
The risk is twofold: Fake Money and Unfair Rates. If you are caught with counterfeit Liras that you got from an unlicensed shop, the police may suspect you of being the counterfeiter. Furthermore, unlicensed shops have no legal oversight, so if they shortchange you, the police cannot easily help you recover the money as the transaction itself was unauthorized.
LetFix Solution
If you have been scammed by an unlicensed currency exchange or given counterfeit bills, you must report the shop to the Treasury and Finance Ministry (Maliye). We can assist in documenting the illegal activity and filing a formal complaint to recover your funds.
